The Discover it cards were listed among the best credit card products on the market by MONEY Magazine, which recently released its Best Credit Cards report for 2016-2017. This is the third year in a row that Discover cards have make the cut for inclusion on the annual list.
Each card took honors in a different category: the Discover it® Cash Back was named as a top cash back credit card for maximizing rewards, and the Discover it® Miles card earned recognition for being the best cash back credit card in its first year on the market. The Discover it® Secured landed a spot as Best Secured Credit card. Secured credit cards are popular among people trying to establish or rebuild their credit history; since cardholders put down a deposit equal to the credit line they are awarded, the bank has collateral to hold in case of default. This allows people who might have trouble getting a traditional unsecured credit card to use credit and improve their credit score.
Cashback Match gives new cardmembers a bonus
Discover was the pioneer of cash back rewards, offering customers at least 1% back on every dollar spent, with up to 5% back per dollar in certain spending categories. Right now, all Discover cardmembers are also eligible for Cashback Match, which doubles their cash back award on their first anniversary of being a Discover cardholder. Every dollar they’ve earned during the first year of having any type of Discover card is matched at the end of that first year.
Discover offers cards designed especially for frequent travelers, students, shoppers looking to earn cash back, and people who are working on building credit.
“We love how our credit card portfolio stacks up against the industry, across all categories,” said Discover’s executive vice president and chief marketing officer, Julie Loeger. She said the company is committed to serving customers’ needs through offering new and innovative products. “Having three of our cards named to MONEY’s Best Credit Cards list speaks to that commitment.”
Three cards, three different sets of benefits
The Cash Back card offers cardmembers 5% cash back in purchasing rotating categories, on up to $1,500 in purchases each quarter. They also get unlimited 1% cash back on all other purchases. The Discover it Miles card give 1.5 miles for every dollar spent on purchases in any category and can redeem miles as a statement credit against travel purchases, or receive the miles as cash back. The Discover it Secured Card gives 2% cash back at gas stations and restaurants, on up to $1,000 in purchases each quarter. None of the three cards has an annual fee, and all offer award-winning 24/7 live, U.S.-based customer service.